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In July/09 BOA (Countrywide) told me that I qualified for loan

Customer Question

In July/09 BOA (Countrywide) told me that I qualified for loan modification under their HASP program. They took down info about all of the financial elements in my life including front-end DTI and back-end DTI, then they asked for me to fax them documents to verify certain elements. We spoke again and they told me that they had all necessary documentation and that they were now processing my modification because I qualified under their strict hardship guidelines and that my situation was clearly justified to be handled according to (SFAS) No. 15, SFAS No. 114, SFAS No. 133, SFAS No. 140, and AICPA Statement of Position 03-3. They told me that my modification will include reduction of principle, forgiveness of second mortgage, and reduction of interest rate. It is now 9 months later and there is still no modification and I am in deeper hardship because of this. I wish to take legal action that will work to have them keep their promise to me. Anyone know of something proven to work?
Submitted: 6 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 6 years ago.
What do you want to accomplish?
Customer: replied 6 years ago.
Hi. Thanks for inquiring.

I want to accomplish having the loan modified as they promised. I called them the other day (AGAIN) and the person told me that I would need to re-apply and then wait 90+ days for an answer. I told them that was unacceptable and that I have already been waiting 9 months following their verbal approval which followed submittal and review of all documents and data.

If it is feasible to do, I would also like to find out the facts as to whether Countrywide had broken any laws (RESPA, etc.) as I have been told that it is a likelihood given the success of other people challenging the legitimacy & legality of the way their Countrywide mortgage had been contracted/processed.
Expert:  INFOLAWYER replied 6 years ago.
This is a matter of negotiation unless they assured it in writing.
Customer: replied 6 years ago.

Yes, that is where I was at prior to inquiring at JustAnswer. What I need is legal guidance which is based on other case decisions so that I may have some leverage in having them keep their word. My circumstances still warrant the modification and I still qualify as before.

To add strength to my negotiating:

a) Do you feel it will be fruitful for me to request FTC investigate the bait-and-switch (delay) practice in the modification conversation to see if it is prevalent and/or damaging to others as it has been to me?

b) Do you know of a way for me to discover whether Countrywide/BOA has broken laws in handling my mortgage?

c) Lacking any creative way to bring advantage to my negotiating, what are the next best options for me to get out of the home while causing as little damage to my credit rating / financial reputation ? (given that I cannot continue at this sustained high level of payment due to a long streak of unemployment, due to the same bank (BOA/FED) constricting credit to businesses which could/would hire me)
Expert:  INFOLAWYER replied 6 years ago.
I am going to open this question to my colleagues/

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